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Frontrunning: October 26
- Coming to a Federal Reserve near you: Russian banks count pigs, lingerie as collateral from creditors (Bloomberg)
- George Soros: Don't ignore the need for financial reform (FT)
- CIT continues delaying the inevitable: sweetens, extends exchange offer (Reuters)
- German consumer confidence falls for the first time in a year (BBC)
- Is California finished? (The New Republic)
- Nouriel Roubini: Big crash coming (Index Universe)
- Geithner widens bills-to-bonds gap with new sales (Bloomberg)
- US considers reining in "too big too fail" institutions (NYT)
- UK house prices may fall further, Ex-BOE's Blanchflower says (Bloomberg)
- Back door taxes hit Americans with public financing in the dark (Bloomberg)
- Peltz grabs stake in Legg Mason (WSJ)
- Government porkfare is no way to end the recession (Bloomberg)
- Troubled Japan Air Lines to be nationalized after all (BBC)
- Touradji beaten by commodity indexes, funds lose edge (Bloomberg)
- Fairpoint Communictions files for Chapter 11, to reduce debt by $1.7 billion (AP)
- ING to spin off insurance arm, issue new shares, pay back bailout money (AP)
- Taking the long view of the stimulus (Atlantic)
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George Soros: Don't ignore the need for financial reform
This is my 2009 nomination for understatement of the year to date. George Soros might have a few cards up his sleeve to explain his real reason for making this statement but overall I'm in full agreement.
I concur with you CD. Unfortunately, I don't see any fair and balanced regulation coming soon enough. With Summers running the show and keeping all attempts to rein the looting! Im still trying to figure out "why" Sorors went public???
When you consider how much he spent electing Obama, he certainly does have skin in the game.
I've been thinking (admittedly a dangerous activity) about some of the real reasons why we've experienced a 7 month push higher in just about every market on earth. Markets don't move, they are moved.
If we get past the usual suspects of greed and self interest, one of the not so obvious benefits of a steadily higher market to certain entities is the decidedly toned down drum beat for more or additional or even new regulation
Think how much stronger that drum beat would be if we hadn't rallied like we did. Who benefits from the decidedly lower expectations that new/additional regulation is even warranted now that the world's boo boos are nearly healed and everything is better?
The regulatory dogs were definitely put off their scent, wouldn't you say?
Interesting about the reg dogs...Perhaps there is a mechanism in place that has not allowed Master Soros to play his hand?
Somebody please correct if I'm wrong about one of the implications in the Geithner widens bills-to-bonds gap with new sales article. The average due date of US Treasury debt is 49 months...so that means between now and 2012-13 we have to refinance 11 trillion in debt, not even counting new issues.
Thats quite a roll.
Also, 10yr poking its head out above 3.50 before a lot of new issues...interesting
DGDF crowd in full effect this morning. Sell dollar, buy....well, everything else. It can't lose.
BB: Guys, okay to slide out of banks for the day, dump all the money in reits, okay?
LB..sure
JD..no problems
BB..have a nice day.
Andy: What does converted to chat mean? enlighten me!
ima still hold it down...comments section is where most of the ZH community converges n converses. there are some awesome discussions n debates in the ZH chat room tho, I'd recommend it to anyone looking to dig deeper.
TNR: is CA finished?
thesis: YES, because Repubs won't sign up to let state gov't spend more, lots more.
Yeah. Right.